On August 5, Amgen rose 3.02% in regular trading, trading at approximately $390.77 per share with turnover of $8.77 billion. The stock gained following the company's second-quarter earnings report released after market close on August 4.

Ahead of the report, market consensus had projected Q2 revenue of approximately $9.425 billion, representing a 5.44% year-over-year increase, with adjusted earnings per share expected at $5.62, up 6.20% year-over-year. The positive post-earnings reaction suggests results met or exceeded these expectations. Multiple investment banks had previously raised their price targets on the stock, with UBS lifting its target from $400 to $420 while maintaining a Buy rating, Barclays adjusting to $360, and Truist Securities raising to $340. The average analyst rating stands at overweight with a mean target price of approximately $357.

Additionally, the company maintained its quarterly dividend of $2.52 per share, payable September 11. The earnings release comes amid a period that also saw Amgen disclose a cybersecurity incident in late July, though the company stated it expects no material financial impact from the breach.

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